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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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Global Rift at UN as Gaza Famine Declared ‘Man-Made’

 

                                     An Israeli tank manoeuvres in Gaza as seen from the Israeli side of the border


In a rare display of near-unanimity, 14 of the 15 United Nations Security Council members have declared that the famine gripping Gaza is a “man-made crisis”, urging immediate action to halt the humanitarian catastrophe. The United States stood alone in rejecting the assessment, questioning the credibility of the Integrated Food Security Phase Classification (IPC) report that confirmed famine conditions for over half a million Palestinians, with projections that the number could exceed 640,000 by the end of September.

The joint statement from the 14 nations called for an immediate, unconditional, and permanent ceasefire, the release of all hostages, and the lifting of all Israeli restrictions on humanitarian aid. They stressed that the use of starvation as a weapon of war is prohibited under international law.

Israel has dismissed the famine findings as “biased” and based on incomplete data, citing recent increases in food deliveries. However, aid agencies warn that without swift and unrestricted access, the crisis will deepen, with children and vulnerable populations at greatest risk.

The diplomatic divide underscores growing tensions within the Security Council, as global calls for urgent relief clash with political and strategic alliances.

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